Data from Glassnode has revealed that a significant amount of the total supply of Bitcoin (BTC) has been dormant for more than 10 years. What? For more than a decade ?!
10% of Bitcoin’s supply is frozen in time
According to data from Glassnode, 1.8 million Bitcoin are locked at inactive BTC addresses. And, to look at it another way, that adds up to more than $ 23 million that appears to be frozen in time.
A significant proportion of this 10% frozen BTC could supposedly belong to the mysterious Bitcoin creator Satoshi Nakamoto, who, as many know, disappeared in 2011.
Interestingly since a few months we have observed that BTC have moved from the Satoshi era. From CriptoTendencia we have reported each one of them and, the interesting thing is that it happened previously from time to time.
However, for whatever reason, they have started to move and many wonder if Satoshi Nakamoto is behind them.
There are more and more HODLers
The Glassnode data also reveals that as the price of Bitcoin rises, so do HODLers.
Just yesterday the leading crypto received a boost that allowed it to earn around $ 1,000 in just a few hours. Now Bitcoin is trading very close to $ 13,000.
In this sense, the number of Bitcoin wallets with more than 0.1 BTC has reached an all-time high. Also, just the number of wallets with more than 100 BTC reached a maximum of six months.
So, let’s think for a second: what does this all mean? We have clearly seen a significant increase in demand for Bitcoin, from retail investors to the largest, including Wall Street.
To this we are going to add the fact that Bitcoin has a limited supply, of which 10% seems frozen in time.
HODLers have a clear bullish sentiment that has been fueled by the confidence injections that BTC has received.
Today Paul Tudor Jones spoke about Bitcoin during CNBC’s Squawk Box and assured that BTC is an excellent hedge against inflation. He also added that he expects it to increase in the coming years due to the intervention of the central bank.
Not to mention that for Jones investing in Bitcoin is like investing in Steve Jobs and Apple or Google from the beginning.
This obviously has everyone in the crypto community very excited, especially as we see Wall Street entering the equation.